LONDON (ShareCast) - An unexpected fall in first-time jobless claims gave equities a leg-up in early trade, as it indicated that the US economy may not be in as bad a state as feared. Stocks are mixed but firmer on balance, largely due to a better performance by tech stocks today.

The Dow-Jones 30 is down 17 at 12,252 and the S&P 500 is 1 point lower at 1,337 but the tech-heavy NASDAQ Composite is up 12 at 2,329.

Global electronics company Molex surges ahead after further consideration of yesterday’s second-quarter results in which revenues came in higher than expected, thanks to currency translation gains.

Computer utilities firm Symantec is on the up after indicating it expects 2008 earnings to equal or exceed $1.24 a share. Consensus forecasts for Symantec’s 2008 earnings had been in the region of $1.17 a share.

Office equipment company Xerox’s fourth-quarter earnings rose 79% and came in ahead of expectations. The company has benefited from the growing demand for colour laser printers and document management services.

Media company McGraw-Hill, owner of the Standard & Poor’s credit rating agency, climbs higher despite announcing its first fall in profits in seven quarters. The company intends to reduce headcount as the demand for debt ratings diminishes.

The Ford Motor Company held steady after its fourth quarter loss fell to $2.75 billion, or $1.30 a share, from $5.63 billion, or $2.98, a year earlier, as its plant closure programme reduced costs.

On the downside, eBay gives back yesterday’s gains as analysts get to grips with yesterday’s results. Net income in the final three months of 2007 rose to $530.9m, or 39 cents a share, from $346.5m (25 cents) in the corresponding period of 2006, but the company warned that sales in 2008 are likely to be below current market expectations.

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